Ruto Declares Economy Stabilized, Debts No Threat!
President William Ruto has declared that the country has attained economic stability and that the debt crisis has been resolved.
This was stated during a Sunday Thanksgiving service in Taita Taveta, where he also stated that his efforts to stabilize the economy over the past eight months have borne fruit.
Ruto stated that there was an urgent need to reduce the ballooning debt ceiling and that his administration is committed to reducing borrowing.
“I have held numerous meetings with the World Bank, the International Monetary Fund, and others from whom we have borrowed money, but I want to assure the people of Kenya that we have stabilized the economy and are no longer threatened by obligations. What I cannot tolerate is for our nation to continue to borrow money left, right, and center, he said.
ALSO READ: Demos, Witchcraft Won’t Reduce Unga Costs – Ruto
As an alternative to borrowing, President Ruto stated that the nation will rely on revenue collection to fund its operations, and he urged Kenyans to accept the taxation proposals he has proposed.
“We will collect taxes at our main base. And I will lead those who pay their taxes; I will be in the lead. We seek this tax so that our nation can be run on its resources,” he said.
“And if we can do it, we must because it is a sustainable way to lead Kenya into the future, allowing us to strategize on our plans knowing where the funds will come from.”
Kenya’s public debt, which has surpassed Ksh.9.4 trillion, is still manageable despite global disruptions that are destabilizing economies worldwide.
Prof. Njuguna Ndung’u, Treasury Cabinet Secretary (CS), stated that the State intends to reduce expenditure this fiscal year to improve the country’s debt sustainability ratio.
Ruto Declares Economy Stabilized, Debts No Threat!
